High Efficiency Exterior Installed at 1006 W 9th Ave in KoP

KING OF PRUSSIA, PA — RedGo Development has commenced the installation of an EIFS panel exterior at 1006 W. 9th Avenue within the Continental Business Center here and named Fidelity Commercial Real Estate leasing agent for the 105,000 square foot multi-building flex/office complex.

According to Fred Goebert, president of RedGo Development, the capital improvement of the five structures will cost in excess of $1 million and bring all of the buildings to class A appearance. And while not a LEED project, it will increase each structure’s efficiency and energy rating.

The exterior enhancement is being initiated as part of RedGo’s long-term objective of building asset value, reducing operating costs and improving curb appeal of the five buildings which a private investment partnership, led by the firm, acquired in 2003.

RedGo Development purchased five buildings aggregating approximately 105,000 square feet of class B space within the nine-building Continental Business Center and commenced the re-development of selected structures into class A flex/office area. Tom Hall of Tom Hall & Associates was selected to direct the current facelift of the buildings.

According to Jim Fleming, construction superintendent for RedGo, the project involves removal of the current cedar wood exterior and installing the StoTherm Exterior Insulation and Finish System (EIFS) manufactured by Sto Corp.

The EIFS panels will have a colored textured finish coating of oyster shell white with eight inch raised architectural chocolate mousse corners. Also included in the additions will be new exterior LED illumination, entrance canopies and sunshades.

Fleming expects each building will require two to three weeks to complete the replacement of exteriors, construction that will not disrupt tenants.

As part of the capital improvement program and new marketing initiative, RedGo has leased approximately 2,875 square feet of office space at 1006 W. 9th Avenue to Fidelity Commercial Real Estate Alliance for the relocation of its corporate headquarters from 216 Mall Boulevard in King of Prussia.

Commenting on the move, Tom Coyne, principal of Fidelity Commercial Real Estate, said: “We have placed a number of tenants in Continental Business Center since RedGo acquired the buildings eight years ago. The new EIFS exteriors will dramatically improve the appearance of the complex. That capital investment, proximity to our existing office and long-term relationship with RedGo made the Center the perfect solution to our corporate office needs. We look forward to our move to 1006 W. 9th Avenue in September and are pleased to have been selected as leasing agent for the entire complex.”